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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segment Reporting
Note 16 — Segment Reporting
The Company’s operations are located in the United States and organized into three reportable segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services. The balances included in Other reflect other general and administrative costs, which are not directly attributable to High Specification Rigs, Wireline Services, or Processing Solutions and Ancillary Services. The reportable segments comprise the structure used by the Chief Operating Decision Maker (“CODM”) to make key operating decisions and assess performance during the years presented in the accompanying Consolidated Financial Statements. The Chief Executive Officer is regarded as the Company’s CODM. The primary profitability measurement used by the CODM to review segment operating results is Adjusted EBITDA. We define Adjusted EBITDA as net income or loss before net interest expense, income tax expense, depreciation and amortization, equity-based compensation, gain or loss on sale of assets, acquisition related costs, severance and reorganization costs, significant and unusual legal fees and settlements, impairment of assets, employee retention credit, inventory adjustment, and certain other non-cash and certain other items that we do not view as indicative of our ongoing performance. The CODM utilizes Adjusted EBITDA to allocate resources for each segment predominantly in the annual planning process and to monitor segment results compared to prior period, forecasted results, and the annual plan.
The reportable segments have been categorized based on services provided in each line of business. The tables below present the operating income (loss) measurement and Adjusted EBITDA, as the Company believes this is most consistent with the principles used in measuring the financial statements.
During the fourth quarter of 2022, the Company determined assets are routinely utilized across multiple segments and Management does not utilize the net property and equipment value as a metric to evaluate the profitability of the respective segments. Therefore, the net property and equipment values have been removed from the segment data presented below.
The following is a description of each operating segment:
High Specification Rigs. Provides high specification well service rigs and complementary equipment and services to facilitate operations throughout the lifecycle of a well.
Wireline Services.  Provides services necessary to bring and maintain a well on production and consists of our completion, production and pump down service lines.
Processing Solutions and Ancillary Services.  Provides complementary services often utilized in conjunction with our High Specification Rigs and Wireline Services segments. These services primarily include equipment rentals, plug and abandonment, and processing solutions.    
Other. Other represents costs not allocable to the reporting segments and includes corporate general and administrative expense and depreciation of corporate furniture and fixtures, amortization, impairments and other items similar in nature.
Certain segment information for the three and nine months ended September 30, 2025 and 2024 is as follows (in millions):
High Specification RigsWireline ServicesProcessing Solutions and Ancillary ServicesOtherTotal
Three Months Ended September 30, 2025
Revenue$80.9 $17.2 $30.8 $— $128.9 
Employee expenses41.4 8.1 11.6 4.2 65.3 
Repair and maintenance8.2 1.6 3.5 — 13.3 
Other segment items*15.6 8.9 10.2 2.4 37.1 
Depreciation and amortization5.7 2.8 2.1 0.4 11.0 
Gain on sale of assets— — — (0.4)(0.4)
Operating income (loss)10.0 (4.2)3.4 (6.6)2.6 
Interest expense, net— — — 0.4 0.4 
Income tax expense— — — 1.3 1.3 
Other income— — — (0.3)(0.3)
Net income (loss)$10.0 $(4.2)$3.4 $(8.0)$1.2 
Reconciliation of net income (loss) to Adjusted EBITDA:
Net income (loss)10.0 (4.2)3.4 (8.0)1.2 
Interest expense, net— — — 0.4 0.4 
Income tax expense
— — — 1.3 1.3 
Depreciation and amortization5.7 2.8 2.1 0.4 11.0 
EBITDA15.7 (1.4)5.5 (5.9)13.9 
Equity based compensation— — — 1.6 1.6 
Gain on sale of assets— — — (0.4)(0.4)
Severance and reorganization costs— 0.1 — — 0.1 
Acquisition related costs— 0.1 — — 0.1 
Legal fees and settlements— — — 0.2 0.2 
Employee retention credit— — — (0.3)(0.3)
Inventory adjustment— 1.6 — — 1.6 
Adjusted EBITDA$15.7 $0.4 $5.5 $(4.8)$16.8 
Capital expenditures$4.3 $0.8 $1.9 $— $7.0 
High Specification RigsWireline ServicesProcessing Solutions and Ancillary ServicesOtherTotal
Nine Months Ended September 30, 2025
Revenue$254.7 $56.5 $93.5 $— $404.7 
Employee expenses131.3 27.1 35.3 13.2 206.9 
Repair and maintenance24.5 6.1 10.0 — 40.6 
Other segment items*48.2 26.4 30.6 7.5 112.7 
Depreciation and amortization16.7 8.1 6.4 1.3 32.5 
Impairment of fixed assets— — — 0.4 0.4 
Gain on sale of assets— — — (0.6)(0.6)
Operating income (loss)34.0 (11.2)11.2 (21.8)12.2 
Interest expense, net— — — 1.0 1.0 
Income tax expense— — — 4.0 4.0 
Other income— — — (1.9)(1.9)
Net income (loss)$34.0 $(11.2)$11.2 $(24.9)$9.1 
Reconciliation of net income (loss) to Adjusted EBITDA:
Net income (loss)34.0 (11.2)11.2 (24.9)9.1 
Interest expense, net— — — 1.0 1.0 
Income tax expense— — — 4.0 4.0 
Depreciation and amortization16.7 8.1 6.4 1.3 32.5 
EBITDA50.7 (3.1)17.6 (18.6)46.6 
Impairment of assets— — — 0.4 0.4 
Equity based compensation— — — 4.8 4.8 
Gain on sale of assets— — — (0.6)(0.6)
Severance and reorganization costs— 0.7 — 0.1 0.8 
Acquisition related costs— 0.5 0.1 0.1 0.7 
Legal fees and settlements— — — 0.5 0.5 
Employee retention credit— — — (1.9)(1.9)
Inventory adjustment— 1.6 — — 1.6 
Adjusted EBITDA$50.7 $(0.3)$17.7 $(15.2)$52.9 
Capital expenditures$18.8 $0.8 $5.2 $— $24.8 
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* Other Segment Items include Direct Materials, Subcontractor Expense, Reimbursable Expenses, Equipment Rentals, Fuel, Per Diem, Travel & Entertainment, Vehicles and Miscellaneous. These items, including Employee Expenses and Repair and Maintenance, are included in Cost of Services and General and Administrative expense in the Consolidated Statements of Operations.
High Specification RigsWireline ServicesProcessing Solutions and Ancillary ServicesOtherTotal
Three Months Ended September 30, 2024
Revenue$86.7 $30.3 $36.0 $— $153.0 
Employee expenses43.3 12.4 12.1 4.7 72.5 
Repair and maintenance8.1 3.1 2.8 — 14.0 
Other segment items*15.8 12.1 12.3 2.4 42.6 
Depreciation and amortization5.7 2.7 2.2 0.5 11.1 
Gain on sale of assets— — — (0.1)(0.1)
Operating income (loss)13.8 — 6.6 (7.5)12.9 
Interest expense, net— — — 0.7 0.7 
Income tax expense— — — 3.5 3.5 
Net income (loss)$13.8 $— $6.6 $(11.7)$8.7 
Reconciliation of net income (loss) to Adjusted EBITDA:
Net income (loss)13.8 — 6.6 (11.7)8.7 
Interest expense, net— — — 0.7 0.7 
Income tax expense— — — 3.5 3.5 
Depreciation and amortization5.7 2.7 2.2 0.5 11.1 
EBITDA19.5 2.7 8.8 (7.0)24.0 
Equity based compensation— — — 1.4 1.4 
Gain on sale of assets— — — (0.1)(0.1)
Legal fees and settlements(0.3)— — 0.1 (0.2)
Adjusted EBITDA$19.2 $2.7 $8.8 $(5.6)$25.1 
Capital expenditures$4.0 $1.6 $2.2 $— $7.8 
High Specification RigsWireline ServicesProcessing Solutions and Ancillary ServicesOtherTotal
Nine Months Ended September 30, 2024
Revenue$249.1 $87.6 $91.3 $— $428.0 
Employee expenses129.3 38.4 34.5 12.8 215.0 
Repair and maintenance22.6 8.8 7.8 — 39.2 
Other segment items*46.9 37.2 30.5 7.9 122.5 
Depreciation and amortization16.9 8.7 6.2 1.5 33.3 
Gain on sale of assets— — — (1.7)(1.7)
Operating income (loss)33.4 (5.5)12.3 (20.5)19.7 
Interest expense, net— — — 2.1 2.1 
Income tax expense— — — 5.0 5.0 
Net income (loss)$33.4 $(5.5)$12.3 $(27.6)$12.6 
Reconciliation of net income (loss) to Adjusted EBITDA:
Net income (loss)33.4 (5.5)12.3 (27.6)12.6 
Interest expense, net— — — 2.1 2.1 
Income tax expense— — — 5.0 5.0 
Depreciation and amortization16.9 8.7 6.2 1.5 33.3 
EBITDA50.3 3.2 18.5 (19.0)53.0 
Equity based compensation— — — 4.0 4.0 
Gain on sale of assets— — — (1.7)(1.7)
Severance and reorganization costs0.7 0.1 0.1 0.1 1.0 
Acquisition related costs0.3 — — 0.1 0.4 
Legal fees and settlements0.2 — — 0.1 0.3 
Adjusted EBITDA$51.5 $3.3 $18.6 $(16.4)$57.0 
Capital expenditures$20.0 $3.9 $13.6 $— $37.5 
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* Other Segment Items include Direct Materials, Subcontractor Expense, Reimbursable Expenses, Equipment Rentals, Fuel, Per Diem, Travel & Entertainment, Vehicles and Miscellaneous. These items, including Employee Expenses and Repair and Maintenance, are included in Cost of Services and General and Administrative expense in the Consolidated Statements of Operations.